Progressive Switch Over

Commentaire.

Innovations in the world nowadays are such that neither individuals nor economies can afford to stay aloof with the changes especially as concerns evolutions in information and communication technologies. The rising influence of the technology has not left the banking sector indifferent. Like any other business, it is aligning with the wave of digitalisation that is currently sweeping the global economy.

Observations in the country where users of money transfer outfits no longer queue up to fill forms to withdraw or send money and in some banking institutions wherein hitherto manual operations have given way to electronic transactions, are simply the realities of the irresistible change. After all, it is said the only constant thing in life is change and the country’s banking sector cannot afford to be indifferent.

The change is no doubt salutary given that some errors users made in the manual operations are averted with the digitalisation of operations. The banking systems already memorise the names of their customers as well as some of their regular contacts. Just with a verbal request, verifications are done and transactions carried out in less than no time. Innovative indeed! Gone therefore are the days when spelling errors and complaints of shortage of despatch or reception forms that characterised the manual work delayed banking operations.

However, the price citizens are paying for the switch over is non-negligible. There are still complaints from users on the abrupt nature of the changes. There are reports of financial institutions closing over a dozen of their agencies in several localities across the country. As the closure benefits the concerned banks in that they are minimising...